Toyota Kirloskar Motor Becomes the First Auto Manufacturer to Auction Used Cars in India

• Inaugurates “Toyota Auction Mart” in its plant at Bidadi in Karnataka

• First used car auction to take place at Toyota Auction Mart on 15th September, 2015

Toyota Kirloskar Motor(TKM) today announced the launch of “Toyota Auction Mart” as it becomes the first auto manufacturer in India to venture into used car auction business.Reinstating the company’s commitment towards creating a transparent and reliable used car industry for the customers across India, Toyota Auction Mart(TAM) is a first of its kind initiative in the Indian automobile industry and will  start operations through a dedicated auction facility at Bidadi(near Bangalore) in Karnataka. Every used car from all brands will go through detailed inspection that will determine the current quality level of the car thereby ensuring highest levels of QDR (quality, durability & reliability) for the end users of the product.

All cars in the Toyota Auction Mart will go through comprehensive 203 point inspection which is used to arrive at a quality level of used vehicle. And each car will be checked for quality level by TKM in-charge after due diligence of documentation. These203 Points inspection is based on global Toyota standards of QDR.

Currently, the Toyota Auction Mart is a B2B (business to business) model.

With this launch TKM aims to move one step closer in ensuring a fair used car ecosystem in the country, enabling a one stop shop for used car customers.

Commenting on the launch, Mr. Naomi Ishii, Managing Director, Toyota Kirloskar Motor,said, “India’s used car market continues to grow rapidly every year, yet remains largely unorganized.

The launch of Toyota Auction Mart signifies our efforts to develop a fair and transparent used car market with increased reliability for our customers and will contribute to the Indian society.

Toyota has been engaged in auction through affiliates for more than 45 years now and we will leverage our global experience and expertise of conducting auctions in markets across the world to ensure the highest quality. We are committed towards creating a reliable and transparent used car market which will enable faster disposal of cars at right prices and right quality cars to the buyers,” he continued.

Also sharing his views on the inauguration of Toyota Auction Mart, Mr. N. Raja, Director & Senior Vice President, Toyota Kirloskar Motor said, “At Toyota, we are striving to revolutionize the used car industry by increasing the reliability of Used Car market for customers, which otherwise is considered as unreliable by many customers in India.

As more & more customers come forward and rely on organized market, this will help us expand the organized Used Car market.Toyota Auction Mart will also help OEM dealers to increase their new car sales by faster liquidating their used car inventory, so that they can purchase more used cars to support new car sales and provide many variety of used cars to individual used car dealers at one place. We at Toyota sincerely believe that relationship with used car customers can be strengthened with collaborative effort of entire industry and I am very confident that Toyota Auction Mart will be a strong support in this direction”, added Mr. N. Raja.

Prospective buyers used car dealers from in and around Bangalore will be participating in the first auction scheduled to take place on 15th September, 2015 in the newly constructed facility at the Toyota plant.